SigmaRoc creates dedicated shipping subsidiary
First publishedon www.AggBusiness.com
SigmaRoc, a leading construction materials business, has created SigmaGsy Limited, a new subsidiary dedicated to bulk shipping activities around the British Isles and northern Europe. SigmaRoc anticipates its new subsidiary will add in excess of £200,000/year (€233,000) to its operational EBITDA, starting from Q2 2017.
SigmaGsy will supplement the bulk shipping requirements of cement majors and other partners in the region with a specialised offering and support the shipping needs of SigmaRoc’s wholly owned subsidiary Ronez Limited. The new subsidiary will require an initial investment of £550,000 for the acquisition of highly specific equipment including a dedicated bulk cement carrier.
David Barrett, executive chairman of SigmaRoc, said: “This is a small but significant step forward for our business. As a relatively new niche player in a high volume bulk market we are able to bring to the table shipping solutions which complement the requirements of our sector. This new subsidiary further enforces our strategy to operate in niche areas of this industry to the benefit of our investors.”